So far I’ve learned on the first CD:
1. The Stock Market crash in 1929 didn’t cause the Depression it caused a Rescission. But it was the Federal Reserve (directed by FDR) that raised interest rates to 20% making loans very expensive, that turned a recession into a 12 year long Great Depression.

2. Hoover wasn’t a laise fare capitalist as we were taught in school. He talked the talk like one to the Press but his policies were Big Government Republican (like W.)

1 comment to Pot Tax

Every economic disaster seems to have new elements that catch the sages by surprise. I think the lessons of history are in mind, witness that interest rates have been brought down and kept near zero for a very long time, and that may have fueled the market’s recovery of 2009.